THE SENATE

S.B. NO.

589

TWENTY-EIGHTH LEGISLATURE, 2015

 

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT

 

 

relating to insurance.

 

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 

     SECTION 1.  Chapter 431, Hawaii Revised Statutes, is amended by adding a new section to article 10E to be appropriately designated and to read as follows:

     "§431:10E-    Property insurance; renewal.  Every insurer who issues a policy for property insurance shall provide for the renewal of the policy regardless of whether the policyholder made a claim for actual property loss or damage during the covered period of the existing policy; provided that an insurer may deny renewal of an existing policy for nonpayment of an undisputed premium by the policyholder."

     SECTION 2.  Section 431:21-108, Hawaii Revised Statutes, is amended to read as follows:

     "[[]§431:21-108[]]  Renewals of existing policies.  (a)  Member insurers shall renew policies in existence on June 18, 1991, on property situated in the area designated by the commissioner under section 431:21-107.  A member insurer may choose not to renew such a policy if the insured property does not meet the member insurer's underwriting criteria.

     (b)  Notwithstanding any provision of law to the contrary, a member insurer shall provide for the renewal of a policy; provided that a member insurer may deny renewal of an existing policy for nonpayment of an undisputed premium by the policyholder."

     SECTION 3.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 4.  This Act shall take effect upon its approval.

 

INTRODUCED BY:

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Report Title:

Property Insurance; Hawaii Property Insurance Association; Renewal

 

Description:

Requires the renewal of property insurance, but permits insurers to deny renewal for nonpayment of an undisputed premium by a policyholder.

 

 

 

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.